Pension Funds Performance

被引：0
|
作者：
Musilek, Petr [1 ]
机构：
[1] Skoly Ekon Praze, Fak Financi & Ucetnictvi, Katedra Bankovnictvi & Pojistovnictvi, Prague 13067 3, Czech Republic
来源：
FINANCIAL MANAGEMENT OF FIRMS AND FINANCIAL INSTITUTIONS | 2011年
关键词：
Pension funds; pension funds performance; supplementary pension insurance; zero yield guarantee;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
The aim of this paper is not only to explain the role of pension funds in financial systems, but also to evaluate how effectively the pension funds manage entrusted retirement savings. Particular attention will be paid to the performance of pension funds in the Czech supplementary pension insurance system, which is characterized by the existence of unusual zero yield guarantee. However, the zero yield guarantee causes excessively conservative behavior of portfolio managers, which leads to lower real rates of return.
引用
收藏
页码：296 / 303
页数：8
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